Pohlads With Gordon Brothers, Hilco Invest in Polaroid
Gordon Brothers Group, Hilco Global and Pohlad Family Capital Fund (PFCF) announced that PFCF and another family office investor have acquired interests in PLR IP Holdings, the owner of the Polaroid brand and related intellectual property, from Knightsbridge Capital Partners and the Chapter 7 bankruptcy trustee of PBE Corporation (the former Polaroid Corporation).
The transaction marks the next phase of the company’s evolution after a successful five year effort to reestablish Polaroid as the preeminent brand for instant photography and related consumer electronics worldwide.
Gordon Brothers Group and Hilco Global acquired the intellectual property and other assets of the Polaroid Corporation in 2009 following the company’s bankruptcy filing. The acquisition included a material investment by Knightsbridge Capital Partners and an equity stake for the bankruptcy estate of the then Polaroid Corporation (now PBE Corp.).
“We are very excited to partner with these new investors to take Polaroid to the next level,” stated Kenneth S. Frieze, CEO of Gordon Brothers Group. “We are proud of what we have accomplished and believe this new investment will position us to continue our work with Polaroid and contribute to other future collaborative brand projects in this space” he added.